In these tough times, businesses across all industries are doubling down on outcome goals, process goals and performance goals – and demanding results in both revenues and costs.
Shannon Hamilton, VP of Growth and Adoption, will share insights on how the partnership between DLT Labs and Walmart Canada is a perfect example of an enterprise using a fully deployed blockchain solution for supply chain management. In just 18 months of using the technology, Walmart Canada reported a 97% drop in invoice disputes. The benefits also extended to carriers who were also receiving their payments faster.
DL Freight, a specific configuration of DLT Labs’ blockchain platform, has been deployed by Walmart Canada as its national standard for freight and invoice management on over 500,000 loads annually. The solution is already disrupting the industry with transformative visibility, transparency, accuracy and efficiency with dramatic results. The previous 11 step workflow dropped to just 5 steps from tender to invoice payment, approvals are automated, and external reconciliation has been eliminated altogether.
The solution is an out of the box platform powered by Hyperleder with configurable modules that integrates with IOT, AI and legacy systems. The use of blockchain ensures that each participant in the process knows the integrity of the data is inherently accurate, tamper-proof and up to date.
The DLT and Walmart Canada success story has been recognized by the Council for Supply Chain Management Professionals (CSCMP) as one of the 6 finalists for its prestigious Supply Chain Innovation Award.